LAS VEGAS (KTNV) — Las Vegas businesses are already feeling the hit after the rise in meat prices over the last few days.
Sofia Chavez, owner of Sofia’s Cocina, says that she has been noticing the price hike, but has also had to invest more time to buy the meat she needs for her business.
According to experts, meat products of all types are enjoying a strong demand right now. Wholesale prices for specific meat products are at record levels.
For example, wholesale chicken breast meat prices have been elevated because of the chicken sandwich war underway among several chain restaurants. High export demand has also led to an increase in prices for drumsticks and leg quarters. Additionally, the cost of chicken wings has also gone up.
The price of beef has also gone up. Wholesale beef tenderloin and ribeye prices are at record high and strip loins are also selling very well. Demand has also increased for end meat or value cuts and ground beef.
Pork prices have also increased since the beginning of 2021, but are currently below pre-pandemic levels.
There are several reasons for the increase in prices, including labor shortages in the meatpacking industry, an increase in the cost of corn used to feed animals, and increased consumer demand.
Most recently, a cyberattack that halted slaughters by the meat processing company JBS has led to fears of shortages and even higher prices.